Scout Investments Inc. Reduces Position in Hanover Insurance Group Inc (THG)

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Scout Investments Inc. reduced its holdings in Hanover Insurance Group Inc (NYSE:THG) by 49.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,983 shares of the insurance provider’s stock after selling 153,583 shares during the quarter. Scout Investments Inc.’s holdings in Hanover Insurance Group were worth $17,694,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Hanover Insurance Group by 1.0% during the third quarter. JPMorgan Chase & Co. now owns 175,427 shares of the insurance provider’s stock valued at $21,642,000 after acquiring an additional 1,700 shares during the period. First Republic Investment Management Inc. grew its position in Hanover Insurance Group by 9.5% during the third quarter. First Republic Investment Management Inc. now owns 10,938 shares of the insurance provider’s stock valued at $1,350,000 after purchasing an additional 947 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Hanover Insurance Group by 3.9% during the third quarter. The Manufacturers Life Insurance Company now owns 70,424 shares of the insurance provider’s stock valued at $8,688,000 after purchasing an additional 2,629 shares in the last quarter. Pacer Advisors Inc. grew its position in Hanover Insurance Group by 12.5% during the third quarter. Pacer Advisors Inc. now owns 15,135 shares of the insurance provider’s stock valued at $1,867,000 after purchasing an additional 1,677 shares in the last quarter. Finally, Man Group plc grew its position in Hanover Insurance Group by 1.8% during the third quarter. Man Group plc now owns 32,340 shares of the insurance provider’s stock valued at $3,989,000 after purchasing an additional 573 shares in the last quarter. Institutional investors and hedge funds own 89.65% of the company’s stock.

THG has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Hanover Insurance Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 30th. Compass Point initiated coverage on shares of Hanover Insurance Group in a research report on Friday, March 1st. They issued a “buy” rating and a $118.71 target price for the company. Finally, ValuEngine raised shares of Hanover Insurance Group from a “hold” rating to a “buy” rating in a research report on Monday, December 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $130.57.

In related news, insider Mark Joseph Welzenbach sold 7,402 shares of the company’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $113.05, for a total transaction of $836,796.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bryan J. Salvatore sold 867 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $116.20, for a total transaction of $100,745.40. Following the sale, the insider now directly owns 8,312 shares of the company’s stock, valued at $965,854.40. The disclosure for this sale can be found here. Insiders sold 17,560 shares of company stock valued at $2,016,383 over the last three months. Insiders own 1.65% of the company’s stock.

THG stock opened at $116.55 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 17.16 and a beta of 0.70. Hanover Insurance Group Inc has a 12 month low of $104.59 and a 12 month high of $131.44.

Hanover Insurance Group (NYSE:THG) last posted its earnings results on Wednesday, January 30th. The insurance provider reported $1.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.04. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.04 billion. Hanover Insurance Group had a net margin of 7.88% and a return on equity of 11.14%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 earnings per share. On average, equities research analysts predict that Hanover Insurance Group Inc will post 8 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.06%. The ex-dividend date was Thursday, March 14th. Hanover Insurance Group’s dividend payout ratio is 35.35%.

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Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates in three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, umbrella, healthcare, mono-line general liability, and miscellaneous commercial property insurance products; and other commercial coverages, including inland marine, specialty program business, management and professional liability, surety, and specialty property.

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Institutional Ownership by Quarter for Hanover Insurance Group (NYSE:THG)

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